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Good Morning Everyone!
Remember, you make most of your money in a bear market, it just feels like hell at the time.
4-day U.S. week begins today with a bounce after last week’s large selloff (S&P 500 -6%)
8 trading sessions left in Q2
Earnings pre-view season next 30 days
Buybacks will be on hold as we enter Blackout period
Will we get negative pre-announcements?
Reiterate 2022 guides
Withdraw guidance (see Lennar comment below)
Tomorrow & Thursday Powell semi-annual testimony
Peak Inflation? When? How High?
Economist calling for a 9-handle on inflation before it peaks
Stanley Druckenmiller (top U.S fund manager) on investing this year:
“I feel like I am about to play a round of golf without a driver or a (60 degree) wedge”
Crude 110 +2%
Yellen said that a gasoline tax holiday was “certainly worth considering” (this would be good for demand)
Senator Manchin is against direct pay options for renewable energy tax incentives
Colombia elected leftist Gustavo Petro said he would not issue any new licensees for oil & gas exploration + reduce dependence on coal
Plans to split into 3 Publicly traded companies
Global Snacking $11.4 billion sales
North American frozen breakfast $2.4 billion sales
Caribbean Plant $340 million sales
Apple workers voted to unionize Maryland store
First union of Apple retail employees in the U.S.
“we recognize that current attempts at guidance are tantamount to guessing and not guiding.”
Bitcoin dropped down in to the 17,000s over the weekend before bouncing back to the 20k level
Here’s a look at the relationship between Bitcoin and the Fed:
A reminder—we’ve been here before:
Digit assets saw outflows again last week, albeit smaller than recent weeks:
But total yearly inflows are still firmly posiitive at $403M
Bitcoin enjoyed inflows of $28M last week:
Noteworthy: Short Bitcoin assets under managements peaked last week before seeing record outflows, which suggest the worst may be behind us
Meanwhile the Altcoin market is getting interesting:
We’re seeing a similar chart pattern from 2016 play out:
Become a paid subscriber to GRIT Crypto for access to our altcoin research reports and see which tokens we’re buying!
MEME OF THE DAY
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